MCQ
Assertion (A): A trade cycle refers to oscillations in aggregate economic activity particularly in employment, output, income, etc.
Reason (R): The four different phases of trade cycle is referred to Boom, Recession, Depression and Recovery.
Reason (R): The four different phases of trade cycle is referred to Boom, Recession, Depression and Recovery.
- ✓Both ‘A’ and ‘R’ are true and ‘R’ is the correct explanation to ‘A’
- BBoth ‘A’ and ‘R’ are true but ‘R’ is not the correct explanation to ‘A’
- C‘A’ is true but ‘R’ is false
- D‘A’ is false but ‘R’ is true